BSR Real Estate Investment Trust Files Preliminary Base Shelf Prospectus

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

LITTLE ROCK, AR and TORONTO, Nov. 1, 2019 /CNW/ - BSR Real Estate Investment Trust ("BSR" or the "REIT") (TSX:HOM.U and HOM.UN) announced today that it has filed and obtained a receipt for a preliminary short form base shelf prospectus with the securities commissions in each of the provinces and territories of Canada.  

Upon a final short form base shelf prospectus (the "Shelf Prospectus") becoming effective, these filings will, subject to securities regulatory requirements, allow the REIT to issue trust units, debt securities, subscription receipts and warrants (the "Securities") in amounts, at prices and on terms based on market conditions at the time of sale and set forth in an accompanying shelf prospectus supplement ("Prospectus Supplement"), for an aggregate offering amount of up to US$500,000,000 during the 25 month period that the Shelf Prospectus is effective.

Unless otherwise specified in a Prospectus Supplement, the net proceeds from the sale of Securities for cash may be used for potential future acquisitions, capital expenditures, to repay indebtedness and general working capital purposes. Each Prospectus Supplement will contain specific information concerning the use of proceeds from that sale of Securities. There is no certainty that any Securities will be offered or sold under the Shelf Prospectus within the 25 month period.

This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The Securities referred to in this press release may not be offered or sold in the United States absent registration or an applicable exemption from registration. A copy of the preliminary short form base shelf prospectus can be found on SEDAR at www.sedar.com.

ABOUT BSR REAL ESTATE INVESTMENT TRUST

BSR Real Estate Investment Trust is an internally managed, unincorporated, open-ended real estate investment trust established pursuant to a declaration of trust under the laws of the Province of Ontario. The REIT owns a portfolio of 49 multifamily garden-style residential properties aggregating 10,784 apartment units located across five bordering states in the Sunbelt region of the United States.

Additional information about the REIT is available at www.bsrreit.com or www.sedar.com.

FORWARD-LOOKING INFORMATION

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the business of the REIT and the environment in which it operates, and including statements about the offering or sale of Securities and the proposed use of proceeds thereof. Forward-looking statements are identified by words such as "believe", "anticipate", "project", "expect", "intend", "plan", "will", "may", "estimate" and other similar expressions. The forward-looking statements in this news release are based on certain assumptions, including assumptions regarding the proposed use of proceeds of the offering and sale of Securities and the REIT's growth strategy. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, risks related to the offering or sale of Securities pursuant to the Shelf Prospectus, the completion of the transactions contemplated in this news release in the manner anticipated, and the factors discussed under the heading "Risk Factors" in the preliminary short form base shelf prospectus dated November 1, 2019  and in the REIT's Annual Information Form for the year ended December 31, 2018, dated March 7, 2019, each of which is available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the REIT assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

SOURCE BSR Real Estate Investment Trust

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